Vitalik Buterin defends the potential of Memecoins in the cryptocurrency sector and favors “good Memecoins.”
Posted: March 29, 2024 10:20 AM Updated: March 29, 2024 10:20 AM
Correction and fact check date: March 29, 2024, 10:20 AM
briefly
Vitalik Buterin highlighted the positive impact of memecoins on the cryptocurrency sector in his latest article.
Vitalik Buterin, co-founder of decentralized blockchain Ethereum, published an article about memecoin on his blog, highlighting its positive impact on the cryptocurrency sector.
According to Vitalik Buterin, a memecoin that supports public goods rather than benefiting only insiders and creators would be ideal. For example, he mentioned charity coins that allocate a significant portion of the token supply or implement ongoing fee mechanisms to support charitable causes, demonstrating the potential for alignment between memecoins and positive social impact.
He also noted that developing on-chain games can have a positive impact and should win. Organizations like 0xPARC, which supports application research and development on Ethereum and is also the creator of the Dark Forest and FrogCrypto games, are good examples.
Moreover, Vitalik Buterin mentioned one of his personal moral guidelines, emphasizing the importance of recognizing excellence even among groups or individuals one does not like. He cited a lack of enthusiasm for coins named after totalitarian political movements, scams or schemes that promise short-term pleasure but ultimately disappoint in the long term.
Acknowledging the potential for downsides and negative consequences associated with memecoins, including issues such as racism and rug pull, Vitalik Buterin also emphasized the importance of people’s desire for enjoyment. He expressed his preference for the cryptocurrency sector to align with these tendencies, advocating for the development of high-quality and enjoyable projects that contribute positively to the ecosystem and society as a whole.
CryptoQuant CEO Warns Negative Impact of Memecoin Amid Memecoin Craze
The Ethereum co-founder’s comments follow their sentiments and voice their opposition to memecoins.
Recently, Joo Ki-young, founder and CEO of market data analytics company CryptoQuant, addressed his dissatisfaction with the multibillion-dollar memecoin on the By expressing this, it diverted the attention of the development team. This is a legitimate product that contributes to the advancement of the field.
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Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through her work with VCs, notable cryptocurrency projects, and science writing. You can contact us at (email protected).
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alice davidson
Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through her work with VCs, notable cryptocurrency projects, and science writing. You can contact us at (email protected).
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